Some good news comes for the UAE as the first quarter of 2017 ends, with expectations of a tougher second and third quarters, in the form of a DMCC research. As people await the triggering of ‘Article 50’, the uncertainty over Brexit is making UK businesses more open to overseas expansion, with 42 percent of UK businesses confessing to having more appetite now than previously to expand their business presence overseas. That’s according to new research released today by the DMCC, a Dubai Government entity on trade and enterprise.
Among the top reasons for UK businesses eyeing overseas expansion, include emerging markets becoming increasingly attractive (63 percent), the growing business need for a global presence (47 percent), availability and wealth of overseas talent (44 percent), and too much uncertainty in the markets with the UK no longer being an attractive option (36 percent).
Out of the UK businesses open to expanding into overseas markets, a staggering 75 percent say they are eyeing Dubai as a possible overseas location to expand into. And out of the UK businesses that are still undecided, 40 percent say they would consider the Middle East as a territory to have a presence in if they are open to overseas business expansion.
And among the UK businesses that are still hesitant about overseas expansion, 34 percent say it is because their business is not applicable for an overseas market, however certain features could make it more attractive for them to consider overseas business expansion. For 43 percent of UK businesses, tax free incentives would make it more attractive to expand into overseas markets, and for 29 percent, the ease at which they can arrange paperwork (trade license, visas, office space) would help them consider an overseas expansion.